Quanta Services, Inc. (NYSE:PWR) Shares Sold by Mengis Capital Management Inc.

Mengis Capital Management Inc. lessened its stake in Quanta Services, Inc. (NYSE:PWR) by 0.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 36,105 shares of the construction company’s stock after selling 175 shares during the quarter. Quanta Services comprises approximately 2.1% of Mengis Capital Management Inc.’s investment portfolio, making the stock its 11th biggest position. Mengis Capital Management Inc.’s holdings in Quanta Services were worth $10,765,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. EntryPoint Capital LLC acquired a new position in shares of Quanta Services during the 1st quarter valued at about $25,000. Cambridge Trust Co. acquired a new stake in Quanta Services during the 1st quarter worth approximately $26,000. Valley Wealth Managers Inc. acquired a new stake in shares of Quanta Services in the second quarter valued at $33,000. Quest Partners LLC purchased a new position in shares of Quanta Services in the 2nd quarter valued at about $35,000. Finally, Eastern Bank purchased a new position in Quanta Services in the third quarter worth approximately $44,000. 90.49% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Quanta Services news, insider Karl W. Studer sold 23,357 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $270.51, for a total value of $6,318,302.07. Following the sale, the insider now directly owns 10,631 shares in the company, valued at approximately $2,875,791.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PWR shares. Stifel Nicolaus upped their price objective on Quanta Services from $283.00 to $342.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. UBS Group lifted their price objective on shares of Quanta Services from $313.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Truist Financial upped their price target on shares of Quanta Services from $319.00 to $358.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. started coverage on shares of Quanta Services in a research report on Monday, October 7th. They set a “neutral” rating and a $297.00 target price for the company. Finally, Citigroup lifted their target price on shares of Quanta Services from $302.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.27.

Quanta Services Trading Down 0.7 %

Shares of NYSE:PWR opened at $327.37 on Wednesday. Quanta Services, Inc. has a 52-week low of $173.62 and a 52-week high of $335.00. The company has a market cap of $48.32 billion, a P/E ratio of 60.40 and a beta of 1.01. The stock’s 50-day moving average is $297.41 and its 200-day moving average is $276.44. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.19 and a current ratio of 1.23.

Quanta Services (NYSE:PWR) last released its quarterly earnings data on Thursday, October 31st. The construction company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $0.26. Quanta Services had a return on equity of 16.71% and a net margin of 3.54%. The company had revenue of $6.49 billion for the quarter, compared to the consensus estimate of $6.56 billion. During the same period in the previous year, the business earned $2.08 earnings per share. The company’s quarterly revenue was up 15.5% on a year-over-year basis. Equities research analysts predict that Quanta Services, Inc. will post 7.88 earnings per share for the current year.

Quanta Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Tuesday, October 1st were paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Quanta Services’s dividend payout ratio (DPR) is presently 6.64%.

About Quanta Services

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company’s Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.